Energy

What hope is there for today’s unlucky graduates?

I’m fresh out of advice for those now leaving university and wondering how on earth they’re going to make a living and live their dreams. This week’s bad news (from the job search website Adzuna) was that graduate and other entry-level vacancies have fallen almost a third since the launch of the AI chatbot. Should this unlucky post-Covid cohort stay on at ‘uni’ for another degree? Or does that mean racking up student debt without enhancing employability? I used to urge everyone to go abroad in their twenties before family responsibilities overtake. But where to now? Hong Kong and mainland China are out; it’s the wrong time to go to

The hidden costs of Angela Rayner’s Employment Rights Bill

One peril of a sudden adverse turn of global events is that it provides cover for bad domestic government. If confidence is knocked by fear of war, if inflation blips because the Strait of Hormuz is blocked, if demand for defence spending sends budgets awry, voters may easily be persuaded that Middle East conflict, rather than Labour policy, has put the UK economy flat on its back. But that’s no excuse for proceeding with bad legislation as the world darkens – and one such item is Angela Rayner’s Employment Rights Bill, currently under House of Lords scrutiny, which in brief summary confers fearsome powers on trade unions and creates a

The Sizewell delusion

The Chancellor’s promise of £14 billion for the Sizewell C nuclear power station in Suffolk is hardly news. The project has been talked about for 15 years while the existing UK nuclear estate has gradually been shut down and the only other new station, Hinkley Point in Somerset, has stumbled to a decade-long delay and £28 billion of budget overruns. Quite some optimism – verging on Milibandian delusion – is required to embrace the idea that Sizewell will come quicker and cheaper because it will replicate Hinkley Point while avoiding its mistakes. And since Chinese money has been ruled out, it’s still a mystery as to who else will pay

How many countries have banned the burqa?

Behind the veil How many countries have banned the burqa? At least 24 have placed some restrictions around the wearing of full-face coverings in public, although in most cases it applies only in public buildings. Interestingly, they encompass liberal democracies and dictatorships, Muslim-dominated and non Muslim-dominated countries. They are: Algeria, Austria, Azerbaijan, Belgium, Bulgaria, Canada, Chad, China, Denmark, France (general ban in public), Gabon, Kosovo, Kyrgyzstan, Latvia, Luxembourg, Netherlands, Norway, Sri Lanka, Switzerland, Tajikistan, Tunisia, Turkmenistan, Turkey and Uzbekistan. In Afghanistan, the wearing of a burqa or niqab (which has a slit for the eyes) is compulsory for women. Degrees of separation Is it still worth going to university? –

How to bring down Britain’s power grid

At the end of last month, a fire at an electrical substation in Maida Vale caused chaos in west London. Homes lost power. Transport services ground to a halt. It came in the same week as outages across Spain and Portugal and just a few weeks after a fire at another substation caused Heathrow airport to shut down. We also know that the British government is drawing up contingency plans for Russian attacks on energy infrastructure. All of this raises an important question: how resilient would the British state be in the face of a determined effort to cripple its power grid? The blunt answer is: not very. David Betz,

Martin Vander Weyer

If the numbers add up, Shell should bid for BP

A hangar full of analysts and investment bankers must have spent the long weekend formulating advice for Shell chief executive Wael Sawan for and against a takeover of BP. On the plus side, Shell’s strong share performance, reflecting its undiluted focus on oil and gas and boosting its market value to £150 billion, makes a bid look almost bite-sized – BP’s value having shrunk to £56 billion over the past two years as investors decried the commitment to renewables that its board has belatedly reversed. And the addition of BP’s assets in North America and the Gulf of Mexico would turn Shell into a carbon-fuel giant to challenge the likes

The Boden Belt: the Lib Dems are the new party of the posh

The English social season has begun, kicking off with Gold Cup day. But this year, there is a new common denominator in the seats of southern England where the middle classes congregate: Liberal Democrat MPs. From the Cheltenham Festival in March right the way through to Goodwood in September, it is Ed Davey’s party which represents the constituencies where Britain’s bourgeoisie are most comfortable. Whether it is the Boat Race in April (Richmond) or the Derby in June (Epsom and Ewell), or even Wimbledon and Henley in July, everywhere Pimm’s is served, a Lib Dem is the local MP. They dominate the Boden Belt. And even Tories despair that the

The Miatta Fahnbulleh Edition

37 min listen

Miatta Fahnbulleh was elected as the Labour MP for Peckham at the 2024 general election.  Born in Liberia, her family fled west Africa as the region descended into civil war, eventually settling in north London when she was just 7 years old. Trained as an economist, having studied at Oxford and the LSE, she went on to work in the civil service and at various think-tanks. After serving as the CEO for the New Economics Foundation, she became a senior economic adviser for Labour working with Ed Miliband during his time as leader of the Labour Party. Ed is now her boss again – at the department for energy.  On

Brace for an outbreak of Trumpist investor activism

If the new Trump era has a theme, it’s one of quixotic disruption with random consequences. In that spirit, stand by for more interventions from activist shareholders seeking to electrify sluggish businesses while making fast bucks on the way through. The first episode over here was the attack by the New York investor Boaz Weinstein on seven London-listed investment trusts, in which he acquired stakes and forced shareholder votes to replace board members, with the aim of taking the trusts’ assets under the management of his own firm, Saba Capital. ‘Go home! You’re selfish and wasteful,’ shouted one headline after Weinstein was emphatically defeated in all seven polls. But his

Ian Williams

How China exploits the West’s climate anxiety

In the fight against climate change, China loves to present itself as the world’s White Knight. Armed with wind turbines and solar panels, EVs and batteries, it will rescue us from oblivion if only we would let it.  There’s no shortage of western politicians, academics and organisations who are happy to go along with the idea that China is an ally in the global green revolution. The argument, broadly put, is that whatever our differences on other things (trifles such as security, economics and human rights), surely we can agree on saving the planet. Rachel Reeves seemed to reach that conclusion when she returned from her visit to Beijing last

Unmade in Britain: we’re becoming a zero-industrial society

The French sociologist Alain Touraine coined the term ‘post-industrial society’ in 1969. By the 1980s it had become shorthand for the kind of services-based, individualistic economies most major developed nations had created. Today, the UK is moving its economy beyond that. We are creating what might be called a ‘zero-industrial society’. Climate change targets, soaring energy prices and rising taxes on employment are killing off Britain’s small and vibrant industrial base. Last week, Ineos closed its ethanol plant in Grangemouth, Scotland, with its chairman Sir Jim Ratcliffe warning of ‘the extinction of our major industries’. The previous month, Airbus announced it was cutting 500 jobs. In October, JCB cut 230

John Connolly

Energy prices are shattering Britain’s remaining potteries

The ceramics industry of Stoke-on-Trent is one of the great survivors of the Victorian era. At its height, some 70,000 people were employed by the likes of Wedgwood and Spode to work in the potteries. Despite the Clean Air Act of 1956 – which banned coal-fired kilns – the deindustrialisation of the 1980s and the struggle to compete against the rise of cheaply made Chinese goods, the industry lives on and still employs around 7,000 people, manufacturing everything from teapots to tiles for the London Underground. In 2022, some companies saw their six-month energy bills rise tenfold Stoke can at times seem like it’s living in the ruins of its

Which are our most popular museums?

Volt-face Luton’s Vauxhall plant is to close, partly because of the zero emission vehicle (ZEV) mandate which obliges manufacturers to sell increasing proportions of electric vehicles. Remarkably, the history of the electric car can be traced back half a century earlier than the combustion engine. There are several possible claims as to who built the first road-going electric-powered vehicle, but one is a Scottish inventor, Robert Davidson, who produced one in the 1830s, about the same time as Thomas Davenport in Vermont. By the end of the 19th century electric cars were competing with petrol cars, but died out for the reasons the industry is struggling today: it was hard

Labour’s confidence tricks

There is nothing new, nor necessarily fatal, about making a poor start in government. Margaret Thatcher had a torrid first couple of years in office, set back by galloping inflation and mass unemployment, before she found her direction. Those who assume that Keir Starmer is doomed to be a one-term prime minister thanks to his plunging popularity are speaking too soon. The resignation of Louise Haigh over a historic fraud conviction will swiftly pass. The mini-scandal of freebies accepted by government ministers, which kept Fleet Street occupied over the summer, has already been largely forgotten. Starmer is good at setting targets, rather less good at coming up with any realistic

Is Trump an energy humanist?

27 min listen

Freddy speaks to Robert Bryce – author of an authoritative susbstack on energy – about Trump’s energy plans for his second term. The President elect’s Cabinet picks have been raising eyebrows, including the appointment of Chris Wright as Secretary of Energy. He is an ‘unapologetic energy humanist’ according to Robert and this is a statement of intent when it comes to energy production and driving energy costs down. But what exactly is an energy humanist? And will Chris Wright be able to ‘drill baby drill’? Freddy and Robert discuss. 

Three great minds explore the enigmas of the universe

It sounds like a Tom Stoppard play. A big-shot philosopher meets a big-shot boffin by way of a big-shot writer to descant on the biggest of big-shot debates – what The Rigor of Angels’s subtitle calls ‘the Ultimate Nature of Reality’.True, William Egginton can’t match Stoppard for punchy one-liners, nor for puns and pratfalls and persiflage. But while his book is as demanding a read as anything published this year, it still leaves you smiling. Over and over again the author reminds you of the shimmering weirdness beneath the experiential surface of what we are pleased to call the real world. There is no shortage of books that pit one

How Ed Miliband plans to conjure electricity out of nothing

Electricity is magical stuff. From a couple of tiny holes in a wall comes an apparently endless supply of invisible, weightless, silent ether that turns instantly into light, heat, motion or information at your command. It is a metaphor for the modern economy: we use pure energy to create useful outcomes in the real world. We found out last week that Britain has now for the first time achieved top spot, among 25 nations, in terms of the price we pay for this supernatural ichor, for both domestic and industrial use. This is a disaster. Electricity prices have doubled in Britain since 2019. They are 46 per cent above the

Goodbye to Old King Coal

So farewell, Ratcliffe-on-Soar: the UK’s last coal-fired power station shut down on Monday, having burned five million tonnes of coal per year since it opened in 1968. Back then, 80 per cent of national power came from coal, our primary energy source since the 1880s; at the turn of this century there were still 25 coal plants in operation across the country. Now there are none – and 36 per cent of our power in the past year came from wind, solar and hydro with 7 per cent from biomass, compared with 24 per cent from natural gas and just 1 per cent from Ratcliffe’s coal. That’s a remarkable transition

Don’t look back in anger… it’s just how ticket sales work

We expect Ryanair tickets to cost more on holiday Saturdays than term-time Tuesdays and Uber fares to surge in the rush hour. When bidders drive an Old Master painting into the millions, we praise the skill of the auctioneer. And of course dynamic prices can go down as well as up. These are market mechanisms to match supply and demand, recognising that some buyers will pay more than others for desirable scarce goods. So why the hoo-hah about ticket prices for Oasis’s reunion tour, which doubled as supply dwindled for those towards the end of the online queue? Labour ministers, Brussels bureaucrats and US justice officials have all declared that

Portrait of the week: UK cancels Israel exports, Grenfell fire report released and AfD victory in Germany

Home The government cancelled 30 out of 350 export licences for arms to Israel on items that it said could be used by Israel for ‘offensive purposes’ in Gaza. Israel Katz, the Israeli foreign minister, said: ‘A step like the one taken by the UK now sends a very problematic message to the Hamas terrorist organisation and its backers in Iran.’ Nine offshore wind farm contracts were awarded by the government; last year there were no bidders. The previous government had increased the maximum guaranteed price from £44 to £73 per MWh. The headquarters of GB Energy, a new UK government-backed energy company, will be in Aberdeen. Shona Robison, Scotland’s